What were the total current liabilities for Canine Dimensions in 2023?
Canine_Dimensions Franchise · 2025 FDDAnswer from 2025 FDD Document
| ASSETS | 2023 | 2022 |
|---|---|---|
| CURRENT ASSETS | ||
| Cash | 406,640 | 245,263 |
| FIXED ASSETS | ||
| Automobile | 31,923 | 31,923 |
| Less: Accumulated Depreciation | (23,271) | (19,200) |
| Net Fixed Assets | 8,652 | 12,723 |
| OTHER ASSETS | ||
| Franchise Costs | 40,329 | 40,329 |
| Security Deposit | 9,800 | - |
| Total Other Assets | 50,129 | 40,329 |
| TOTAL ASSETS | 465,421 | 298,315 |
| LIABILITIES AND MEMBER'S EQUITY | ||
| CURRENT LIABILITIES | ||
| Deferred Revenue - Initial Fee, Current | 21,000 | 17,500 |
| Deferred Revenue - Renewal Fee, Current | 700 | 700 |
| TOTAL CURRENT LIABILITIES | 21,700 | 18,200 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 35)
What This Means (2025 FDD)
According to Canine Dimensions's 2025 Franchise Disclosure Document, the company's total current liabilities in 2023 were $21,700. This figure represents the sum of deferred revenue from initial fees, which amounted to $21,000, and deferred revenue from renewal fees, which totaled $700.
Current liabilities are obligations that Canine Dimensions expects to settle within one year. For a prospective franchisee, understanding the franchisor's liabilities can provide insights into the financial stability and short-term obligations of the company. A high level of current liabilities relative to current assets might indicate potential liquidity issues, whereas a lower level could suggest a stronger short-term financial position.
It's important to note that these liabilities are specific to Canine Dimensions Franchising LLC and do not reflect the financial obligations of individual franchisees. The deferred revenue figures likely represent payments received for services or products that have not yet been fully delivered or recognized as earned revenue, which is a common accounting practice in franchise systems.